FUNDING for new centres designed to fuel high growth industries by bridging the gap between universities and business should not be spread too thinly, MPs have warned.
Backbenchers have called for the “technology and innovation centres” to earn a third of their income from private sector contracts in a new report published today.
The Government announced plans last autumn for a network of between six and eight new centres focused on commercialising research with interested parties submitting views and proposals last month.
Andrew Miller, chair of the Commons’ science and technology committee, said: “It is important that TICs work with businesses of all sizes.
“We hope that small companies get involved and that this will strengthen their financial base and increase lenders’ and financiers’ confidence in their commercial prospects.”
The report points to existing centres working in this area and recommends TICs build on their experience.
Some existing centres that rely on regional development agency funding could become part of TICs, it says.
The MPs also warn against TICs monopolising funding research for innovation.
Mr Miller said: “There is an imbalance in public funding between research and innovation.
“It is important that the limited funds for innovation are not monopolised by the TICs.
“Funding for innovation must be available to those outside the new centres, as their work may be the basis of the TICs of the future.”
The committee calls for the centres to be named after computer science pioneer Alan Turing.
Tim Bradshaw, CBI head of enterprise and innovation, added: “We welcome the commitment to identify those existing centres in the UK that will become technology and innovation centres.
“This will mean that existing resources are fully mobilised, will avoid duplication, and deliver maximum benefit for the economy.
“It’s right to take a sectoral-led approach when deciding how these systems will work, but the hub-and-spoke model is not a one-size-fits-all solution.
“The appropriate model must be decided through an industry-led consultation within each sector.”
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